Wage stickiness, offshoring and unemployment
نویسندگان
چکیده
منابع مشابه
The Unemployment Volatility Puzzle: Is Wage Stickiness the Answer?
I study the cyclical behavior of an equilibrium search model with endogenous job creation and destruction and extract from it a wage equation that can be compared with the econometric evidence. Job creation in the model is influenced by wages in new matches. I summarize microeconometric evidence on wages in new matches and show that the key model elasticities are consistent with the evidence. T...
متن کاملOffshoring and Unemployment
Offshoring and Unemployment In this paper, in order to study the impact of offshoring on sectoral and economywide rates of unemployment, we construct a two sector general equilibrium model in which labor is mobile across the two sectors, and unemployment is caused by search frictions. We find that, contrary to general perception, wage increases and sectoral unemployment decreases due to offshor...
متن کاملCEP Discussion Paper No 839 November 2007 The Unemployment Volatility Puzzle : Is Wage Stickiness the Answer ?
I study the cyclical behavior of an equilibrium search model with endogenous job creation and destruction, with focus on the model’s failure to match the observed cyclical volatility of unemployment. Job creation in the model is influenced by wages in new matches. I summarize microeconometric evidence on wages in new matches and show that the key model elasticities are consistent with the evide...
متن کاملOffshoring , tasks , and the skill - wage pattern
The paper investigates the relationship between offshoring, wages, and the ease with which individuals’ tasks can be offshored. Our analysis relates to recent theoretical contributions arguing that there is only a loose relationship between the suitability of a task for offshoring and the associated skill level. Accordingly, wage effects of offshoring can be very heterogeneous within skill grou...
متن کاملEmployment Fluctuations with Equilibrium Wage Stickiness
Following a recession, the aggregate labor market is slack–employment remains below normal and recruiting efforts of employers, as measured by help-wanted advertising and vacancies, are low. A model of matching friction explains the qualitative responses of the labor market to adverse shocks, but requires implausibly large shocks to account for the magnitude of observed fluctuations. The incorp...
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2019
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2019.01.025